4HUMAN TQM AS: årsregnskap 2006 vs 2005
Grew 25% on revenue, slipped into loss
Summary
What changed
Comparing Årsregnskap 2006 with 2005 for 4HUMAN TQM AS. Revenue 3.19m NOK → 3.99m NOK (+25.2%). Net result +109.3k NOK → -633.4k NOK. Equity 803.2k NOK → 169.8k NOK.
On the constructive side: revenue rose; payroll decreased. Pressures included: operating result weakened; fell into a net loss; equity eroded.
Also worth watching: thin equity buffer; cogs moved. All figures are taken from the published annual accounts for 4HUMAN TQM AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 3.19m NOK to 3.99m NOK (+25.2% YoY). Calculated
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Payroll decreased
Salary cost 7.21m NOK → 2.40m NOK (226% → 60% of revenue). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +177.6k NOK → -545.3k NOK (op. margin 5.6% → -13.7%). Calculated
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Fell into a net loss
Net result flipped from 109.3k NOK profit to a loss of 633.4k NOK. Calculated
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Equity eroded
Book equity 803.2k NOK → 169.8k NOK (equity ratio 29.6% → 7.2%). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 7.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS moved
COGS / varekostnad 31.7k NOK → 680.2k NOK (+2044.7% YoY). Calculated